Apprentices stand to save £147 million per year through the National Union of Students (NUS) Apprentice extra card, according to new statistics.
New NUS research examining the benefits of being an apprentice show that 43% of apprentices feel that they enjoy the same lifestyle as their friends who work full time, particularly because of the discounts that they receive through schemes such as the NUS Apprentice extra card.
Some 64% of apprentices feel that they are in a better financial position than full-time students because they earn a regular wage, have no student loan to pay off and have financial independence.
The NUS findings have also indicated that low wages in some apprenticeships can also create financial difficulties.
In terms of lifestyle, being on an apprenticeship doesn’t put a stop to leading a fulfilled life. Many apprentices have similar interests to their friends in full-time employment, including going on holiday, eating out and enjoying shopping trips, yet more than half (51%) feel that full-time students get more discounts and deals from brands than they do, according to the NUS.
Personal financial management is also high on the agenda for apprentices, with more than a third of those that live at home stating that their parents/carers would like them to improve their management of their finances.
More than half ensure they redeem discounts through use of their NUS Apprentice extra card at least once a week, with two fifths socialising at least once a week.
Commenting on the results, Elizabeth Bone, student discounts and partnership director at NUS, said: “The benefits of being an apprentice are clear to see in the survey results with potential savings of over £147 million every year.”
“The reassurance of having no student loan to pay off and financial independence as well as the freedom to enjoy a lifestyle similar to friends in full-time employment is a big plus when it comes to deciding to become an apprentice. The savings that can be made by using an NUS Apprentice extra card really helps apprentices enjoy a good lifestyle.”